Zeolites are solid minerals composed of aluminium, silicon and oxygen which form a framework of cavities in between that can hold water or other small molecules. This three-dimensional crystalline structure is also known as molecular sieve due to the gaps in it. Zeolites are either mined from the volcanic rocks or synthesized industrially on a large scale from aluminosilicate gels. These microporous compounds have a wide range of applications in industries such as refinery, biogas, construction, detergents, agriculture, medical, nuclear, etc. The recently published report by IMARC Group, titled “Zeolite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global zeolite market reached a value of US$ 3.6 Billion in 2018.
Zeolites are largely used in the production of laundry detergents as substitutes for phosphates on account of their water softening properties. Restriction on the usage of phosphates due to environmental concerns has stimulated the demand for zeolites. This has further been supported by a rising demand for detergents in the emerging regions. Further, zeolites are extensively used as catalysts and adsorbents in the oil refining and petrochemical industry. This can be attributed to their stability, cleansing ability and superior activity which help in the production of high quality transportation fuels and chemical products. A surging demand for fuels and chemical products worldwide coupled with a growing emphasis by the governments to use cleaner fuels has further enhanced the market growth. Owing to these factors, the market is expected to reach a value of US$ 4.9 Billion by 2024, exhibiting a CAGR of 5.3% during 2019-2024.
The report has segmented the global zeolite market on the basis of type, covering natural and synthetic zeolites. The market is further analysed on the basis of applications which include detergent, catalyst, adsorbent and others. Amongst these, detergent represents the largest segment. Region-wise, North America is the leading market, accounting for the majority of the global share. Other major regions are Europe, Asia-Pacific, Latin America, and Middle East and Africa. Some of the key players operating in the market include Arkema, BASF, Honeywell International, Tosoh Corporation and Zeochem.
This report provides a deep insight into the global zeolite market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the zeolite market in any manner.
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